BTC/USD stopped just shy of 1300 levels on March 03 and failed to break above. The pair is currently hovering around 5-DMA at 1274 levels at the time of writing (Bitstamp).

Ichimoku analysis of daily chart:

Tenkan Sen: 1212.50

Kijun Sen: 1105.86

The pair now faces resistance at 1300 (psychological) and a break above would target 1347.48 (127.2% extension of 751.34 and 1220)/ 1380 (161.8% retracement of 1139.89 and 751.34)/1400.

Overall trend appears bullish, with no signs of reversals in the daily charts. However, caution is advised as the pair is in extremely overbought levels. Watch out for a close below 5-DMA for possible minor reversal.
 
The pair is likely to find support at 1260 (5-DMA) and a break below would see a dip till 1219.90 (10-DMA)/1168.99 (23.6% retracement of 751.34 and 1298).